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Chronican, who joined ANZ as its Australia CEO
in November 2009 from rival Westpac Banking Corp, will leave to
pursue a "non-executive career," the bank said in a statement.
Whelan joined ANZ as head of sales in 2004 and is currently the
managing director for global commercial banking. He will report
to Group CEO Mike Smith in his new role, effective April 3.
Whelan "knows Australia and Asia well, and has a track record of
delivering for shareholders and for customers," Smith said in a
statement.
ANZ, Australia's No.3 lender by market value, is the only one of
Australia's highly profitable big four lenders to have set its
sights on developing a large business in Asia, building
infrastructure and profits in a region experiencing rapid
economic growth.
Chronican, an avid cyclist, has over 30 years of experience in
banking and was in charge of about 10,000 Australian-based staff
and more than 6 million customers.
David Hisco, CEO of ANZ New Zealand, will take up Chronican’s
responsibilities as global head of retail.
Shares in ANZ were trading down 0.4 percent at A$35.60 each in a
weak Sydney market which was down 0.13 percent. ANZ has risen
about 11 percent so far this year. The benchmark S&P/ASX index
is up 8.5 percent.
(Reporting by Swati Pandey; Editing by Stephen Coates)
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